Price trend

 

PVA 1799 (PVA BF17)

According to the bulk list data of Business Society, the domestic vitamin market continued to decline in August, with concentrated maintenance by vitamin manufacturers, tight supply, and weak production and sales during the off-season of demand.

 

According to the price monitoring of Business Society, the price of vitamin C slightly decreased in August, with a price of 23.33 yuan/kg at the beginning of the month and 22.33 yuan/kg on the 31st, a monthly decrease of 4.29%. Affected by the continuous decline in demand, the market price of vitamin C has continued to decline. With the weather turning hot, there are more planned maintenance companies and a decrease in vitamin supply. Downstream demand remains small and rigid, controlling the market situation. The focus of consolidation trading has fallen.

 

The price of vitamin A slightly adjusted in July, with an average price of 90.75 yuan/kg at the beginning of the month and 89.5 yuan/kg at the end of the month, a monthly decrease of 1.38%. The current mainstream market quotation is around 85 yuan/kg, while the European market quotation is 20-24 euros/kg. The weak demand in the vitamin A market has led to prices dropping to their lowest levels in recent years, with limited room for further decline.

 

PVA

In July, the price of vitamin E slightly adjusted, and the mainstream market price remained stable around 70 yuan/kg. The quotation for the European market is 7-7.5 euros/kilogram. Large domestic factories have suspended production for maintenance, and the vitamin E market has shown a stabilizing trend. In July 2023, China’s vitamin E export volume was 5697.54 tons, a year-on-year decrease of 7.83%,

 

Future Market Forecast

 

Vitamin analysts from the Chemical Branch of the Business Society believe that some vitamin prices have already bottomed out, and there is limited room for upstream price reductions. The market is in the stage of finding support points, and without significant positive factors to boost it, most products are expected to maintain low volatility. In the future, we will closely monitor market trends and changes in enterprise production.

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Price trend

 

PVA

The domestic POM market was strong in August, and spot prices continued to rise. According to the Commodity Market Analysis System of Business Society, as of August 31, the mixed price of domestic POM was 14350 yuan/ton, a decrease of+13.66% compared to the price level at the beginning of the month.

 

Cause analysis

 

In terms of raw materials:

 

According to the analysis system chart of the commodity market of the Business Society, the price of formaldehyde in the Shandong region increased in August. From the above chart, it can be seen that the formaldehyde market has been rising since the end of June and continues to rise this month. The raw material methanol market is fluctuating and rising, and formaldehyde manufacturers are operating normally. The demand for downstream panel factories is mainly maintaining demand, and production enterprises are under great pressure to ship. Formaldehyde mainly increases with fluctuations in raw materials, which provides reasonable support for POM costs.

 

On the supply side:

 

PVA 1788 (PVA BP17)

The overall operating rate of domestic POM enterprises decreased this month, and due to frequent maintenance, the industry load decreased to below 83%. Although the high load situation continued last month, inventory was low in August, and most companies had no inventory pressure, even experiencing negative inventory oversold. The tight supply of goods combined with supply contraction has led to sustained strong support for POM supply.

 

In terms of demand:

 

At present, the operating level of downstream POM enterprises in China is not high, but due to the stimulation of tight supply, the atmosphere of speculation on the market remains high. The enthusiasm for stocking is acceptable, and the transaction position of the order is high. Overall, the level of spot price support for POM on the demand side is acceptable.

 

Future Market Forecast

 

The POM market continued to rise in August. The high operating rate of domestic polymerization plants has declined, and the shortage of goods on site has worsened. There is currently no industry inventory pressure, and suppliers have strong support for spot goods. On the demand side, the impact of high temperatures, power restrictions, and other factors may lead to a decrease in the operating rate of terminal enterprises. However, there are frequent market chasing operations, and downstream users have slight resistance to high priced goods. Traders’ confidence remains strong, and the sentiment of speculation on the market remains strong. At the beginning of September, some enterprises still have maintenance plans, and it is expected that the POM market will continue to strengthen in the future.

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1、 Price trend

 

PVA

According to the monitoring of the Commodity Market Analysis System of the Business Society, the market price of isopropanol increased in August. At the beginning of the month, the average price of isopropanol in China was 7580 yuan/ton, while at the end of the month, the average price was 7700 yuan/ton. During the month, the price increased by 2.64%.

 

Overall, the market price of isopropanol increased in August. In the early days of the market, prices fluctuated and went up. Downstream procurement tends to be cautious, with on-demand orders being the main focus, and many businesses maintaining a wait-and-see attitude. In the middle of the month, the market price of isopropanol rose, while the upstream acetone market price first rose and then fell. The price of propylene increased, and cost support was still acceptable. The overall market trading is relatively active, with many inquiries on the market and difficult to find low prices, resulting in on-demand transactions. In late October, the isopropanol market declined and the trading atmosphere on the market was weak. The decline in upstream acetone prices has dampened confidence in the isopropanol market. Downstream orders are just in need, and the demand lacks support. They are cautious in picking up goods and mainly wait and see. The buying enthusiasm is not high, and the shipment from the holding company is relatively soft. As of now, the majority of quotations for isopropanol in the Shandong region are around 7400-7700 yuan/ton; The majority of prices for isopropanol in the Jiangsu and Zhejiang regions are around 8000-8300 yuan/ton.

 

In terms of raw acetone, the domestic acetone market fluctuated and fell in August. At the beginning of August, the average price of acetone was 6987.5 yuan/ton, while at the end of August, the average price was 6850 yuan/ton. During the month, the price decreased by 1.97%. In August, the enthusiasm of terminal factories to enter the market was not high, and the wait-and-see sentiment in the market increased. Most factories were mainly based on contracts, while downstream processing enterprises entered the market with caution. The participation of intermediate traders was limited, and overall market trading was cautious. Business Society expects short-term adjustment of acetone range..

 

PVA 1788 (PVA BP17)

In terms of propylene, the domestic propylene (Shandong) market fluctuated in August and overall rose. At the beginning of August, the market average was 6713.25 yuan/ton, with an average price of 7000.75 yuan/ton on August 31st, a monthly increase of 4.28%. Due to the impact of maintenance on the propylene unit, supply has been tightened, and the enterprise’s inventory is under pressure, resulting in smooth production and sales. In terms of downstream demand, rigid demand is the main focus, with stable demand and a decent transaction atmosphere. Business Society predicts that the short-term trend of propylene will continue to be strong.

 

3、 Future Market Forecast

 

Isopropanol analyst from the Chemical Branch of the Business Society believes that the price of raw acetone has fluctuated downward, while the price of propylene has fluctuated upward, and overall cost support is still acceptable. At present, downstream orders are mainly received on demand, and many businesses maintain a wait-and-see attitude. It is expected that in the short term, the trading volume in the isopropanol market will be relatively light, and the market will be weak in consolidation and operation.

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